Survival of the Richest

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References Exchange of Information for Tax Purposes. Statement of Outcomes: https:// www.oecd.org/tax/transparency/statement-of-outcomes-2015.pdf 548. Tax Justice Network. (2015). Financial Secrecy Index. ‘Financial Secrecy Index – 2015 Results’. Accessed 18 November 2016. http://financialsecrecyindex.com/introduction/fsi-2015-results See also Table 3 in the chapter on ‘Hidden ownership’ 549. Luxembourger Wort. (2016). Fingers pointed at Luxembourg banks. Published 4 April 2016. Accessed 19 November 2016: http://www. wort.lu/en/business/panama-papers-fingers-pointed-at-luxembourg-banks-5702286e1bea9dff8fa75960 550. Luxembourger Wort. (2016). 10,000 offshore companies connected to Luxembourg. Published 10 May 2016. Accessed 19 November 2016: http:// www.wort.lu/en/business/panama-papers-10-000-offshore-companies-connected-to-luxembourg-5731a436ac730ff4e7f6031b 551. CMS Law-Now. (2016). European Commission files new proposal for amending fourth anti-money laundering directive. Published 3 October 2016. Accessed 19 November 2016: http://www.cms-lawnow.com/ ealerts/2016/10/european-commission-files-new-proposal-for-amending-fourth-antimoney-laundering-directive?sc_lang=en 552. EUR-Lex. (2015). Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council. Accessed 19 November 2016: http://eur-lex.europa.eu/legal-content/ EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES 553. LPG Fiduciary. (2015). The Luxembourg trust: Luxembourg private foundation. Published 18 June 2015. Accessed 19 November 2016: http://www. fiduciaire-lpg.lu/en/publications/corporate-law/luxembourg-trust-luxembourg-private-foundation 554. d’Lëtzebuerger Land. (2016). La persistance de l’Ancien Régime. Published 27 May 2016. Accessed 19 November 2016: http://www.land. lu/2016/05/27/la-persistance-de-lancien-r%C3%A9gime%E2%80%A9/ 555. Luxembourg government response to questionnaire 556. See Table 2 and Figure 4 in the chapter ’Tax treaties’. 557. ActionAid. (2016). Mistreated. Published 23 February 2016. Accessed 25 November 2016: http://www.actionaid.org/sites/files/actionaid/actionaid_-_mistreated_tax_treaties_report_-_feb_2016.pdf See also Figure 3 in the chapter ‘Tax treaties’. 558. Ramboll. (2016). European Commission Taxation Papers. Working Paper no. 61-2015. Study on Structures of Aggressive Tax Planning and Indicators. Published January 2016. Accessed 16 August 2016: http://ec.europa.eu/ taxation_customs/resources/documents/taxation/gen_info/economic_analysis/tax_papers/taxation_paper_61.pdf. See also Figure 1 under the chapter ’Harmful tax practices’. 559. Luxembourg government response to questionnaire and EY. (2016). Luxembourg Parliament approves 2016 tax measures. Published 12 January 2016. Accessed 19 November 2016: http://www.ey.com/gl/en/services/ tax/international-tax/alert--luxembourg-parliament-approves-2016-taxmeasures 560. EY. (2016). Luxembourg Parliament approves 2016 tax measures. Published 12 January 2016. Accessed 19 November 2016: http://www.ey.com/ gl/en/services/tax/international-tax/alert--luxembourg-parliament-approves-2016-tax-measures 561. See Table 1 and Figure 2 in the chapter ’Sweetheart deals’. 562. Dans une interview donnée le 4.11.2015 au ‘Lëtzebuerger Journal’, Wim Piot, tax leader de PwC-Luxembourg, affirma que PwC aurait déposé en 2015 75% moins de rulings qu’en 2014. 563. L’Echo. (2016). Le Luxembourg s'obstine à conclure des rulings secrets. Published 24 May 2016. Accessed 7 July 2016 : http://www.lecho.be/ economie_politique/europe_general/Le_Luxembourg_s_obstine_a_conclure_des_rulings_secrets.9769422-3323.art?ckc=1 564. Parliamentary question: Luxembourg allegedly authorising verbal tax arrangements, dated 27 May 2016. Accessed 7 July : http://www.europarl. europa.eu/sides/getDoc.do?pubRef=-//EP//TEXT+WQ+E-2016-004281+0+- DOC+XML+V0//EN 565. Reuters. (2016). Luxembourg denies report it offers unwritten tax rulings. Published 24 May 2016. Accessed 7 July 2016 : http://www.reuters.com/ article/eu-taxavoidance-luxembourg-idUSL5N18L4OO 566. Luxembourg government response to questionnaire. 567. Het Financieele Dagblad. (2016). Dijsselbloem over Panama Papers: 'Nederland te vaak onderdeel probleem geweest'. Published 4 April 2016. Accessed 25 August 2016: http://fd.nl/economie-politiek/1146036/ dijsselbloem-over-panama-papers-nederland-te-vaak-onderdeel-probleem-geweest 568. De Volkskrant. (2015). Aantal brievenbusbv’s in Nederland blijft groeien. Accessed 29 September 2016: http://www.volkskrant.nl/economie/aantal-brievenbusbv-s-in-nederland-blijft-groeien~a4161782/ 569. Ministry of Finance. (2016b). Kabinetsreactie Panama Papers. Accessed 27 June 2016: https://www.rijksoverheid.nl/binaries/rijksoverheid/documenten/kamerstukken/2016/05/18/kabinetsreactie-panama-papers/kabinetsreactie-panama-papers.pdf 570. Ministry of Finance. (2016a). Ibid. 571. Oxfam Novib. (2016). Interne overheidsdocumenten leggen belastinglobby bloot. Published 17 June 2016. Accessed 28 June 2016: http://www.oxfamnovib.nl/interne-overheidsdocumenten-leggen-belastinglobby-bloot 572. NRC Handelsblad. (2016). Toch parlementair onderzoek naar Panama Papers. Accessed 12 October 2016: https://www.nrc.nl/nieuws/2016/10/11/ toch-parlementair-onderzoek-naar-panama-papers-a1526002 573. It is not specified who will be invited as their representatives. 574. Ministry of Finance. (2016). Concept memorie van toelichting Wet toezicht trustkantoren 2018. Accessed 27 June 2016: https://www.internetconsultatie.nl/wettoezichttrustkantoren2018/document/2199 575. Ministry of Finance. (2016). Internetconsultatie Wet toezicht trustkantoren 2018. Published 18 April 2016. Accessed 27 June 2016: https://www.internetconsultatie.nl/wettoezichttrustkantoren2018 576. Tweede Kamer. (2016). Motie 25087-117 & Gewijzigde motie 21 501-07. Published 21 June 2016. Accessed 28 June 2016. 577. Ministerie van Veiligheid en Justitie. (2016). ‘Onderwerp Motie Merkies over country-by-country reporting’. Letter dated 19 October 2016. Accessed 18 November 2016: https://www.rijksoverheid.nl/binaries/rijksoverheid/documenten/kamerstukken/2016/10/19/tk-motie-merkies-over-country-bycountry-reporting/tk-motie-merkies-over-country-by-country-reporting. pdf 578. Response to questionnaire, Ministry of Finance, June 2016. 579. According to the government response to the questionnaire, “the directive provides that a BO register should be set up for trusts if those trusts fulfill two conditions: (a) they are ‘governed under [Dutch] law’ and (b) ‘generate tax consequences’. There are no trusts under Dutch law, therefore we are not planning to set up a BO register for trusts.” 580. Ministry of Finance. (2016). Kamerbrief over de contouren van het UBO-register. Published 10 February 2016. Accessed 23 June 2016: https://www. rijksoverheid.nl/documenten/kamerstukken/2016/02/10/kamerbrief-overde-contouren-van-het-ubo-register 581. Ministry of Finance. (2016). Kamerbrief over de contouren van het UBO-register. Published 10 February 2016. Accessed 23 June 2016: 582. https://www.rijksoverheid.nl/documenten/kamerstukken/2016/02/10/ kamerbrief-over-de-contouren-van-het-ubo-register 116 • Survival of the Richest
References 583. Tweede Kamer. (2016). Motie 31477, no. 15 Accessed 15 September 2016: https://zoek.officielebekendmakingen.nl/kst-31477-15.html 584. Tax Justice Network. (2015). Financial Secrecy Index. ‘Financial Secrecy Index – 2015 Results’. Accessed 18 November 2016. http://financialsecrecyindex.com/introduction/fsi-2015-results See also Table 3 in the chapter on ‘Hidden ownership’ 585. Francis Weyzig, Tax treaty shopping: structural determinants of Foreign Direct Investment routed through the Netherlands, in International Tax and Public Finance, December 2013, Volume 20, Issue 6, pp. 910-937. 586. Peter de Waard, Volkskrant, 20.4.2015, 23 nieuwe verdragen met Afrika tegen belastingontwijking, http://www.volkskrant.nl/economie/23-nieuwe-verdragen-met-afrika-tegen-belastingontwijking~a3967329/ 587. Bangladesh, Egypt, Kirgistan, Moldova, Uganda, Ukraine, Uzbekistan, Pakistan, Sri Lanka, Vietnam and Zimbabwe. Source: Rijksoverheid. (2016). Onderhandelingen belastingverdragen in eerste halfjaar 2016. Published 23 March 2016. Accessed 20 June 2016: http://www.rijksoverheid.nl/nieuws/2014/12/10/onderhandelingen-belastingverdragen-in-2015.html 588. Response to questionnaire, Ministry of Finance, June 2016. 589. ActionAid. (2016). Mistreated. Published 23 February 2016. Accessed 25 November 2016: http://www.actionaid.org/sites/files/actionaid/actionaid_-_mistreated_tax_treaties_report_-_feb_2016.pdf See also Figure 3 in the chapter ‘Tax treaties’. 590. See Table 2 and Figure 4 in the chapter ’Tax treaties’. 591. See Table 1 and Figure 2 in the chapter ’Sweetheart deals’. 592. Rijksoverheid. (2016). Nederlandse reactie op EC besluit over Starbucks. Published 21 October 2015. Accessed 28 June 2016: https://www.rijksoverheid.nl/actueel/nieuws/2015/10/21/nederlandse-reactie-op-ec-besluit-over-starbucks 593. Response to questionnaire, Ministry of Finance, June 2016. 594. Ramboll. (2016). European Commission Taxation Papers. Working Paper no. 61-2015. Study on Structures of Aggressive Tax Planning and Indicators. Published January 2016. Accessed 16 August 2016: http://ec.europa.eu/ taxation_customs/resources/documents/taxation/gen_info/economic_analysis/tax_papers/taxation_paper_61.pdf. See also Figure 1 under the chapter ’Harmful tax practices’. 595. Ministry of Finance. (2016). Lijst van vragen en antwoorden over de evaluatie van de innovatiebox van 2010 tot 2012. Published 18 April 2016. Accessed 22 June 2016: https://www.tweedekamer.nl/kamerstukken/detail?id=2016D16135&did=2016D16135 596. Ministry of Finance. (2016). Lijst van vragen en antwoorden over de evaluatie van de innovatiebox van 2010 tot 2012. Published 18 April 2016. Accessed 22 June 2016: https://www.tweedekamer.nl/kamerstukken/detail?id=2016D16135&did=2016D16135 597. CPB. (2016). Kansrijk Innovatiebeleid. Published February 2016. Accessed 28 June 2016: http://www.cpb.nl/sites/default/files/publicaties/download/ cpb-boek-20-kansrijk-innovatiebeleid.pdf 598. Platform Investico. (2016). Nederland verzon varianten om onder tien procent te mogen zitten. Accessed 28 september: http://www.platform-investico.nl/artikel/nederland-verzon-varianten-om-onder-tien-procent-te-mogen-zitten/ 599. Response to questionnaire, Ministry of Finance, June 2016. 600. Ryding, Tove. The secret EU tax code that needs to be cracked open. Published 14 January 2016. Accessed 18 November 2016. http://www. taxjustice.net/2016/01/14/the-secret-eu-tax-code-that-needs-to-becracked-open/ 601. Spiegel. (2015). Internal EU Documents: How the Benelux Blocked Anti-Tax Haven Laws. Published 6 November 2015. Accessed 20 August 2016: http:// www.spiegel.de/international/europe/eu-documents-reveal-how-benaluxblocked-tax-haven-laws-a-1061526.html 602. SOMO. (2006). The Netherlands: A tax haven? Published 1 November 2006. Accessed?: https://www.somo.nl/nl/the-netherlands-a-tax-haven/ 603. Vrij Nederland. (2013). Nederland belastingparadijs, met dank aan de PvdA [The Netherlands a tax haven, thanks to the Social Democratic Party]. Published 8 August 2013. Accessed? :https://www.vn.nl/nederland-belastingparadijs-met-dank-aan-de-pvda/ 604. Response to questionnaire, Ministry of Finance, June 2016. 605. Addis Tax Initiative. (2015). Financing for Development Conference. The Addis Tax Initiative – Declaration. Accessed 17 August 2016: https://www. taxcompact.net/documents/Addis-Tax-Initiative_Declaration.pdf 606. Independent Commission for Aid Impact. (2016). UK aid’s contribution to tackling tax avoidance and evasion. Published 27 September 2016. Accessed 18 November 2016:http://icai.independent.gov.uk/new-reportuk-aids-contribution-to-tackling-tax-avoidance-and-evasion/ 607. Response to questionnaire, Ministry of Finance, June 2016. 608. Aftenposten. (2016). DNB sendte rike nordmenn til skatteparadis. Published 3 April 2016. Accessed 15 August 2016: http://www.aftenposten.no/ okonomi/DNB-sendte-rike-nordmenn-til-skatteparadis-54856b.html 609. Aftenposten. (2016). Finanspolitikere om DNB-avsløringen: “En skandale” og ”en skam”. Published 4 April 2016. Accessed 15 August 2016: http:// www.aftenposten.no/okonomi/Finanspolitikere-om-DNB-avsloringenEnskandale-og-en-skam-54818b.html 610. TV2. (2016). DNB-Bjerke: – Vi angrer!. Published 4 April 2016. Accessed 23 November 2016:http://www.tv2.no/a/8189292/ 611. NRK. (2016). Oljefondet har nærmere 200 milliarder kroner i skatteparadiser. Published 5 April 2016. Accessed 15 August 2016: https://www.nrk.no/ norge/oljefondet-har-naermere-200-milliarder-kroner-i-skatteparadiser-1.12884873 612. Ibid. 613. Aftenposten. (2016). Jensen: Vil drøfte skatteparadiser med Stortinget. Published 5 April 2016. Accessed 15 August 2016: http://www.aftenposten. no/norge/politikk/Jensen-Vil-drofte-skatteparadiser-med-Stortinget- 54691b.html 614. Hengnar.no. (2016). Oljefondet må skjerpe kampen mot skatteparadiser. Published 30 May 2016. Accessed 15 August 2016: http://www.hegnar. no/Nyheter/Boers-finans/2016/05/Oljefondet-maa-skjerpe-kampen-mot-skatteparadiser? 615. Bistandsaktuelt. (2016). Må Norfund benytte skatteparadiser? Published 28 April 2016. Accessed 15 August 2016: http://www.bistandsaktuelt.no/ arkiv-kommentarer/2016/ma-norfund-benytte-skatteparadiser/ 616. Tax Justice Network Norway. (2016). Balansekunst om skatteparadiser. Opinion piece first published in Dagens Næringsliv 20 May 2016. Accessed on TJN Norway’s website 15 August 2016: http://taxjustice.no/ressurser/ balansekunst-om-skatteparadiser 617. Bistandsaktuelt. (2016). Hard debatt om Norfund og skatteparadiser. Published 5 May 2016. Accessed 15 August 2016: http://www.bistandsaktuelt. no/nyheter/2016/hard-debatt-om-norfund-og-skatteparadiser/ 618. Vedtak nr. 792, 19. Published June 2015. Accessed 15 July 2016: https://www.regjeringen.no/no/dokumenter/meld.-st.-15-20152016/ id2474080/?q=&ch=2. 619. KPMG. (2016). Norway: Proposed legislation to implement country-by-country reporting rules. Published 13 May 2016. Accessed 15 August 2016: https://home.kpmg.com/xx/en/home/insights/2016/05/ tnf-norway-proposed-legislation-to-implement-country-by-country-reporting-rules.html 620. Skriftlig spørsmål fra Rasmus Hansson (MDG) til finansministeren. Dokument nr. 15:955 (2015-2016). Accessed 15 July 2016: https://www. Survival of the Richest • 117
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Survival of the Richest Europe’s
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Contents Acronyms 4 Glossary 5 Exec
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Glossary Advance Pricing Agreement
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Glossary Tax treaty A legal agreeme
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Executive summary Global solutions
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Global developments 2016 Developing
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Global developments 2016 Box 1 Conc
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Europe’s role in upholding an unj
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Europe's role in upholding an unjus
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Report findings Financial and corpo
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Specific findings Survival of the R
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Methodology for country rating syst
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AUSTRIA TRANSPARENCY REPORTING TAX
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FINLAND TRANSPARENCY REPORTING TAX
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ITALY TRANSPARENCY REPORTING TAX TR
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NORWAY TRANSPARENCY REPORTING TAX T
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SWEDEN TRANSPARENCY REPORTING TAX T
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Recommendations 7. All EU countries
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Austria Taxation Tax treaties Austr
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Belgium Taxation Tax treaties In to
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Belgium Global solutions Belgium di
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Czech Republic According to the 201
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Denmark Taxation Tax treaties Tax t
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Finland Ownership transparency Finl
Page 65 and 66: France “Of course, the fight agai
Page 67 and 68: France Taxation Tax treaties In tot
Page 69 and 70: Germany In July 2016, the European
Page 71 and 72: Ireland Furthermore, it should be n
Page 73 and 74: Italy “After our meeting in Milan
Page 75 and 76: Latvia “We still have a high inco
Page 77 and 78: Latvia Global solutions The Latvian
Page 79 and 80: Luxembourg One Luxembourg newspaper
Page 81 and 82: Netherlands One of the most crucial
Page 83 and 84: Norway Overview Once the Panama Pap
Page 85 and 86: Poland “It seems to us that those
Page 87 and 88: Slovenia In May 2016, the Financial
Page 89 and 90: Slovenia Global solutions Despite p
Page 91 and 92: Spain Taxation Tax treaties The Spa
Page 93 and 94: Sweden Taxation Global solutions Ta
Page 95 and 96: United Kingdom Anti-Corruption Summ
Page 97 and 98: United Kingdom There are broadly tw
Page 99 and 100: References 34. Government of the Un
Page 101 and 102: References 87. European Parliament.
Page 103 and 104: References for the screening of thi
Page 105 and 106: References legal-content/EN/TXT/?ur
Page 107 and 108: References 255. Rekenhof (2011), In
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Page 121 and 122: References 720. Questionnaire answe
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